Letter of Intent

Goldcrest announces that it has signed a letter of intent with a third party to enter into a definitive share purchase agreement for the acquisition of a Ghanaian incorporated company which holds certain exploration licences in Ghana’s Upper East region (“Acquisition”). The Acquisition, if consummated, would not constitute a reverse takeover under ISDX Rules.

The non-binding letter of intent is conditional upon the negotiation, execution and delivery of a definitive agreement between the parties and expires on 31 January 2014.

The Directors of the Issuer accept responsibility for this announcement.